Sprout Social (NASDAQ:SPT) Price Target Cut to $38.00 by Analysts at Barclays

Sprout Social (NASDAQ:SPT) had its target price reduced by Barclays from $48.00 to $38.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also commented on SPT. Cantor Fitzgerald reiterated an overweight rating and set a $46.00 price objective on shares of Sprout Social in a research note on Friday, August 2nd. KeyCorp cut Sprout Social from a sector weight rating to an underweight rating and set a $28.00 target price for the company. in a research note on Thursday, August 22nd. Robert W. Baird increased their price target on Sprout Social from $38.00 to $40.00 and gave the stock a neutral rating in a report on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $55.00 target price on shares of Sprout Social in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Sprout Social has an average rating of Hold and an average price target of $48.25.

Sprout Social Trading Up 2.1 %

Shares of Sprout Social stock opened at $28.90 on Friday. Sprout Social has a fifty-two week low of $25.05 and a fifty-two week high of $68.41. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $1.65 billion, a P/E ratio of -22.06 and a beta of 0.97. The firm has a 50-day simple moving average of $29.81 and a two-hundred day simple moving average of $36.44.

Sprout Social (NASDAQ:SPT) last announced its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The business had revenue of $99.40 million during the quarter, compared to the consensus estimate of $98.70 million. Sprout Social had a negative return on equity of 44.38% and a negative net margin of 19.60%. The business’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.23) EPS. As a group, equities analysts predict that Sprout Social will post -0.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Preto Joseph Del sold 1,500 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $28.27, for a total value of $42,405.00. Following the sale, the chief financial officer now directly owns 158,614 shares in the company, valued at approximately $4,484,017.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Preto Joseph Del sold 1,500 shares of Sprout Social stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $28.27, for a total value of $42,405.00. Following the completion of the transaction, the chief financial officer now owns 158,614 shares in the company, valued at $4,484,017.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Justyn Russell Howard sold 20,000 shares of Sprout Social stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $30.68, for a total transaction of $613,600.00. Following the sale, the chief executive officer now directly owns 310,812 shares of the company’s stock, valued at approximately $9,535,712.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,882 shares of company stock worth $2,570,471 over the last 90 days. Corporate insiders own 10.97% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Fidelis Capital Partners LLC purchased a new position in Sprout Social in the first quarter valued at approximately $27,000. Arizona State Retirement System boosted its stake in Sprout Social by 3.9% in the second quarter. Arizona State Retirement System now owns 13,934 shares of the company’s stock valued at $497,000 after acquiring an additional 529 shares in the last quarter. Diversified Trust Co boosted its stake in Sprout Social by 3.8% in the third quarter. Diversified Trust Co now owns 15,770 shares of the company’s stock valued at $458,000 after acquiring an additional 571 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Sprout Social by 49.0% during the first quarter. Lazard Asset Management LLC now owns 1,863 shares of the company’s stock worth $111,000 after purchasing an additional 613 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Sprout Social during the first quarter worth about $37,000.

About Sprout Social

Sprout Social, Inc designs, develops, and operates a web-based social media management platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides cloud software for social messaging, data and workflows in a unified system of record, intelligence, and action.